NSE: SIGNPOST · BSE: 544117
SIGNPOST INDIA LIMITED
Erects and maintains outdoor and digital-out-of-home (OOH/DOOH) advertisement display panels, including under a Public-Private Partnership with Bruhat Bengaluru Mahanagara Palike (BBMP) for ad panels in Bengaluru. Revenue from operations for FY26 was Rs 57,593.43 lakh, up 27% from Rs 45,322.41 lakh in FY25. Standalone profit after tax for FY26 was Rs 7,002.30 lakh, more than doubling from Rs 3,374.53 lakh the previous year. Materials form the largest cost line at 59.1% of revenue, followed by employee costs at 8.1% and other operating expenses at 7.3%, with depreciation at 7.0% and capex at 9.7% of revenue. The Karnataka High Court issued a clarificatory order on June 23, 2026 directing BBMP to honour the PPP arrangement, recognising the company's contractual right to erect and maintain ad display panels. EBITDA margin for FY26 was 26.31% and the board recommended a final dividend of Rs 0.50 per equity share (25% on a Rs 2 face value). AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. OOH/DOOH advertising display panels. OOH/DOOH advertising operator with municipal public-private partnership contracts and asset deployment in city advertising inventory.
Exhibit 1: Financial summary, FY24–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY24 | FY25 | FY26 |
|---|---|---|---|
| Revenue | 387 | 453 | 576 |
| EBITDA (ex other income) | 83 | 89 | 147 |
| margin % | 21.4 | 19.6 | 25.5 |
| Owners' profit | 44 | 34 | 70 |
| EPS, as reported (₹) | 8.24 | 6.34 | 13.14 |
| ROE % · ROCE % | 22.9 · 27.0 | 15.2 · 17.8 | 24.1 · 29.1 |
| Debt / equity (x) | 0.80 | 0.75 | 0.67 |
| Cash from operations | 64 | 31 | 22 |
| Capex | (0) | (63) | (56) |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 130 | 112 | 111 | 138 | 134 | 142 | 162 | 152 |
| Profit before tax | 24 | 7 | 1 | 20 | 23 | 25 | 27 | 26 |
| Net profit | 16 | 6 | 1 | 15 | 16 | 18 | 21 | 19 |
| EPS (₹) | 2.98 | 1.08 | 0.18 | 2.86 | 2.94 | 3.39 | 3.95 | 3.49 |
Exhibit 3: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| SIGNPOST INDIA LIMITED ◆ | 1,272 | 17.3 | 4.37 | 9.6 | 24.1 | 24.9 | — | 23.1 |
| Bright Outdoor Media Limited | 733 | 6.6 | — | — | — | 17.3 | — | — |
| R K SWAMY LIMITED | 394 | 17.3 | 1.49 | 7.0 | 8.4 | 9.7 | — | 13.1 |
| DIGICONTENT LIMITED | 129 | 105.8 | 3.50 | 6.2 | 2.2 | 3.4 | 14.4 | 2.0 |
| Chatterbox Technologies Limite | 46 | 9.1 | — | — | — | 17.6 | — | — |
| TOSS THE COIN LIMITED | 30 | 10.7 | — | — | — | 25.5 | — | — |
| Sungold Media and Entertainmen | 28 | 560.0 | 2.38 | — | 0.2 | 0.3 | — | 5.3 |
| THINKINK PICTUREZ LIMITED | 26 | 9.0 | 0.17 | — | 0.9 | 1.1 | — | — |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 17.3 | 9.1 | 8 of 11 | 30% |
| P/B | 4.4 | 1.5 | 7 of 7 | 0% |
| ROCE | 24.9 | 10.0 | 2 of 11 | 90% |
| ROE | 24.1 | 2.2 | 1 of 7 | 100% |
| Debt / Equity | 0.7 | 0.0 | 6 of 7 | 17% |
| EBITDA margin | 23.1 | 13.1 | 2 of 5 | 75% |
| Revenue growth | 10.6 | 11.6 | 5 of 7 | 33% |
| Profit growth | 22.2 | 17.2 | 2 of 7 | 83% |
| Market cap | 1272 | 29 | 1 of 12 | 100% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 28 Oct 2026 · Board to review September 2026 quarterly and half-year results | results | low | — | — |
| 13 Oct 2026 · Exclusive ad rights on Chalo premium buses in Mumbai, 5-yr, Rs 36 cr | business updates | high | — | — |
| 8 Oct 2026 · RTA certificate for Q2 FY27 under SEBI Regulation 74(5) | compliance | minimal | — | — |
| 28 Sept 2026 · Trading window closed from Oct 1, 2026 pending Q2 FY27 results | compliance | minimal | — | — |
| 23 Sept 2026 · Signpost India AGM: Director re-appointments and new Independent Director approved | management changes | high | — | — |
| 23 Sept 2026 · AGM results: all 9 resolutions passed, dividend declared, new Independent Director appointed | board shareholder meetings | medium | — | — |
| 7 Sept 2026 · Signpost India says volume rise is market driven, no undisclosed info | compliance | low | — | — |
| 7 Sept 2026 · NSE seeks clarification from Signpost India on unusual trading volume | compliance | low | — | — |
| 4 Sept 2026 · Meghna Rajadhyaksha appointed Chairperson of NRC committee | management changes | medium | — | — |
| 4 Sept 2026 · Notice on special demat window for physical shareholders; NRC chair appointed | compliance | minimal | — | — |
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
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| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
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Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.